Beitel Group and TSG Acquired 720 Units in Chicago MSA
07 Marzo 2021 - 01:00AM
Business Wire
Beitel Group and TSG, both NY-based single-family offices, have
acquired 720 units in Chicago MSA for a purchase price of $110
Million.
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Beitel Group and TSG acquired 720 units
in Chicago MSA (Photo: Business Wire)
The target is to achieve an increased rent premium by upgrading
and enhancing the property. The amenities will include a new
business center, state of the art fitness center, clubhouse, and
leasing office.
Furthermore, the exterior and interior of the units will be
upgraded too. This will include redoing the roofs, sidings, and
windows as well as new appliances, resurfaced counters, new
cabinets doors, faux wood flooring, and upgraded lighting.
Beitel Group
A NY-based family office focused on the acquisition and
development of multifamily and commercial properties nationwide
while pursuing a value-add strategy. Beitel currently owns and
operates a multifamily portfolio spanning nine states, consisting
of 10,000+ units.
TSG
A NY-based fourth generation family office; owner, developer,
and operator of a large portfolio of commercial, multifamily,
healthcare & senior housing properties nationwide.
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version on businesswire.com: https://www.businesswire.com/news/home/20210306005001/en/
Hannah Newman hnewman@beitel.com